Home Busy Accounting Software Unit 3 – Setting up a Company in BUSY

Unit 3 – Setting up a Company in BUSY

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Unit 3 – Setting up a Company in BUSY 29

will print reports for any of these companies the name of the company in the report will appear as Star Electronics.

F. Y. Beginning From

F. Y. is the abbreviated form for financial year. Financial year here refers to the accounting period under which your company is incorporated. Generally, an accounting period is from 1st April to 31st March. For example, if your company is incorporated on 1st June 2010 then enter 1st April 2010 in this data field as your company is incorporated in the financial year starting from 1st April 2010.

è You cannot change the original beginning F. Y. successive financial years but cannot go to the F. Y. year.

once it is saved. You can go to the prior to the original beginning financial

Books Commencing From

Enter the date on which you have started the books of your company. Continuing with the above example, Books Commencing From date will be 1st June 2010.

Address Information

In the Address Information sub-group, various data fields appear in which address, telephone number and other details about the company are to be entered. Various data fields under this sub-group are:

Address 1-4

Four lines for entering address of the company appear. You can enter address of the company in these four lines.

IT PAN

Enter the IT PAN of the company in this data field.

Tel. No.

Enter telephone number of the company in this data field.

Ward

Enter the Ward under which the company falls in this data field.

Fax

Enter fax number of the company in this data field.

E-mail

Enter E-mail address of the company in this data field.

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Country / State Information

Under this group, you have to specify the country and the state under which your company exist. For this, two data fields, Country and State are provided. Select the required Country and State in these data fields.

Currency Information

Under this sub-group, you have to specify the currency of the country in which your company exists.

Three data fields are provided under this sub-group. The data fields are:

Currency Symbol

Enter the currency symbol in this data field. For example, symbol of Rupees is Rs., Dollar is $, Pound is £ and so on.

Currency String

Enter the currency string in this data field. For example, currency string is Rupees, Dollar, Pound and so on.

Currency Sub-String

Enter currency sub-string in this data field. For example, sub-string of Rupees is Paisa, Dollar is Cent, Pound is Pence and so on.

Sales Tax / VAT / GST Information

Under this sub group, you can enable the Sales Tax / VAT / GST for the company and specify the type of tax applicable for your company. For example, if you pay and charge VAT on the goods in which you deal then you can specify the type of tax as VAT. Various data fields that appear under this sub group are:

Enable Sales Tax / VAT / GST

Specify ‘Y’ in this data field if you want to enable Sales Tax / VAT / GST for the company.

Type

Select the type of tax i.e. LST, VAT or GST.

Enable Add. Tax / Schg.

Specify ‘Y’ in this data field if you want to enable Additional Tax / Surcharge for the company.

Caption

This data field is active only if you have specified ‘Y’ in the Enable Add. Tax / Schg. data field. Specify the caption to be used for Additional Tax / Surcharge in this data field. For example, for Additional Tax, you can use term as Add. Tax, for Surcharge, you can use term as Schg.

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